Withdrawal Agreement Vs No Deal

EU leaders approve the postponement of the date of Brexit to 31 January 2020, or earlier, if the UK and European parliaments approve the withdrawal deal by then. UK nationals and EU citizens, family members of the United Kingdom or EU citizens and family members who are not from these two countries retain the right to stay in the host Member State (Article 13). The host Member State must not restrict or prevent persons from obtaining, retaining or losing the right of residence (Article 13). Persons with valid documents [necessary clarification] will not need an entry and exit visa or identical formalities and would not be allowed to enter or enter the host state without complications (Article 14). In the event that the host state “requires an entry visa for family members who join EU citizens or UK nationals after the end of the transitional period,” the host state is required to issue the visas required free of charge through an expedited procedure in appropriate institutions (Article 14). The agreement also covers the issuance of indeterminate residence permits during and after the transition period, as well as their restrictions. In addition, the rights of salaried and self-employed workers will be clarified and recognition and identification of professional qualifications will be made possible. More generally, the political implications of a non-agreement may be as important as its economic consequences. Supporters of the non-deal say Britain could avoid paying for the divorce scheme agreed by Theresa May`s government.

Prime Minister Boris Johnson wins the British general election. It is therefore likely that the Brexit deal will soon be adopted. If the British Parliament approves the agreement, the European Parliament can vote on it in January. A “Temporary Leave Scheme” (TPR) has been put in place so that banks, insurers and asset managers in the European Union can easily inform UK financial supervisors to continue serving UK customers if they do not agree. [67] A Brexit without agreement would have had a direct impact on the exports of many developing countries, as UNCTAD raised the possibility of significant disruption and economic damage to developing countries whose exports are heavily dependent on the UK market and/or subsequently benefited from EU preferences. [34] The agreement was revised as part of the Johnson Department renegotiation in 2019.